Gold Price Forecast March 23, 2018, Technical Analysis

Gold markets were very noisy during the trading session on Thursday, as the markets are trying to figure out what to go next. We’ve had a little bit of a “risk off” tray during the day, although that didn’t seem to benefit gold in general. That makes sense though, because we have such a huge move during the Wednesday session that it was probably difficult for traders to continue to put money into the market. I think that the $1340 level above is resistance, so if we can break above there, the market is free to go to the $1350 level. I believe that in general, gold is a market that you can buy on dips, so be patient and wait for value to take advantage of. I don’t necessarily believe that the market is going to break out in a massive move in the short term, but I do think the building up your portfolio with gold is going to be the prudent thing to do over the next several months.

Gold Price Predictions Video 23.03.18

I currently have the $1300 level as the “floor” in the market, and I believe that we should continue to hold that area quite easily. For the short-term trader, I believe in buying on dips, as the market continues to offer value occasionally. There are multiple support levels underneath, namely the $1327.50 level, the $1320 level, and of course the $1310 level. Because of this, I think it’s only a matter of time before the buyers will come in and pick up gold if it gets to be a bit cheap.